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Technology Stocks
Fintech, including LendingClub. Corp.
An SI Board Since December 2014
Posts SubjectMarks Bans Symbol
80 16 0 LC
Emcee:  Glenn Petersen Type:  Moderated
LendingClub Corporation (stock symbol: LC), the world’s largest non-bank online marketplace facilitating loans between borrowers and investors, completed its initial public offering on December 11, 2014 when it sold 66.700.000 shares at $15 per share, generating gross proceeds of approximately $1 billion.

Founded in 2007, the rapidly-growing company has been a pioneer in the field of peer-to-peer lending, using a proprietary online platform and advanced computer algorithms to match those seeking money with those willing to provide it. While the initial lenders on the platform were individuals, a growing percentage of the loans being originated are now funded by mutual funds and hedge funds. To date, the company has facilitated over $6 billion in loan originations.

The offering is being closely watched, as the company is the first of the “alternative lenders” to go public. As such, analysts have not had any comparable companies to value it against. If the offering is successful, we can expect to see IPOs from competitors like Prosper Marketplace, AvantCredit and the small-business specialist OnDeck Capital (which has already filed a registration statement).

2014 has been a banner year for the alternative financing companies, who collectively have raised over $1 billion in new equity financing.

This board has been created for the purpose of discussing LendingClub’s stock price, financial prospects, actual results, management decisions and the merits of its business model, as well as the prospects for the other “alternative lender” companies. It is neither a Bulls nor a Bears board and all opinions are welcome.

LendingClub SEC filings: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001409970&owner=exclude&count=40&hidefilings=0

LendingClub’s website: https://www.lendingclub.com/

LendingClub’s financial performance


Revenue (millions)

Nine months ending September 30, 2014: $143,007
Year ending December 31, 2013: $98,002
Year ending December 31, 2012: $33,807
Year ending December 31, 2011: $12,752

Net earnings (loss) (millions)

Nine months ending September 30, 2014: ($23,857)
Year ending December 31, 2013: $7,308
Year ending December 31, 2012: ($6,862)
Year ending December 31, 2011: ($12,269)

Earnings (loss) per share (fully diluted)
Nine months ending September 30, 2014: ($.08)
Year ending December 31, 2013: $.02
Year ending December 31, 2012: ($.17)
Year ending December 31, 2011: ($.35)

Loan originations (millions)

Nine months ending September 30, 2014: $2,962,520
Year ending December 31, 2013: $2,064,626
Year ending December 31, 2012: $717,943
Year ending December 31, 2011: $257,364
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80Fintech in China. Ant Financial is an affiliate of Alibaba. Unfortunately, it waGlenn Petersen2last Wednesday
79Fintech is beginning to disrupt the remittance business. The Fight For The $400Glenn Petersen-May 15
78 An obscure regulatory debate has put the entire U.S. fintech community on edge Glenn Petersen1May 5
77Apple is in talks to launch its own VenmoCould the money-transfer service be calGlenn Petersen-April 27
76 How Peer-To-Peer Payment Pioneer Venmo Grew Up And Got Serious Under parent cGlenn Petersen1April 24
75Renaud Laplanche, Ousted at Lending Club, Returns as Rival to His Old Firm By Glenn Petersen-April 6
74Square Initiated At Buy On Breadth Of Payment Offerings investors.comJakeStraw-12/19/2016
73Financial Technology Start-Ups to Get a License to Bank By NATHANIEL POPPER Glenn Petersen112/8/2016
72LendingClub Loan Volume Stabilizes Online lender secures new loan-sale deal as Glenn Petersen-11/9/2016
71 Online Lenders Seek to Shape Industry Before Regulators Do By VICTORIA FINKLEGlenn Petersen-10/22/2016
70How Lending Club’s Biggest Fanboy Uncovered Shady Loans If you knew where to loGlenn Petersen18/21/2016
69LendingClub’s Quarterly Loss Widens; CFO Dolan Steps Down Noah Buhayar NBuhayaGlenn Petersen-8/9/2016
68techcrunch.com Troubled P2P lender LendingClub names Scott Sanborn CEO, cuts 17The Ox16/28/2016
67Lending Club (LC -7.38%) climbed over 3% in pre-market trading after a report thmore100-6/9/2016
66LendingClub Corp. climbed the most in more than a year after the company was saiThe Ox15/27/2016
65An epic meltdown. It is difficult to imagine that LendingClub will survive as anGlenn Petersen15/17/2016
64It is fascinating that the company has imploded so quickly. Nearly mind bogglinThe Ox-5/17/2016
63 Inside the Final Days of LendingClub CEO Renaud Laplanche The allegations arouGlenn Petersen-5/17/2016
62LendingClub Discloses Justice Probe, Potential Shift in Business Model EmbattlGlenn Petersen-5/17/2016
61Bankers altering loan documents and failing to be transparent! How shocking. :)Glenn Petersen15/12/2016
60LendingClub tries to reassure investors as bond deals stall Noah Buhayar and MaThe Ox15/11/2016
59LendingClub CEO Resigns After Internal Review of Loan Sales Sonali Basak sonalGlenn Petersen15/9/2016
58Prosper Marketplace to Cut Jobs and Shuffle Executives CEO Aaron Vermut to forGlenn Petersen-5/6/2016
57LendingClub shifts risk ahead of court ruling, others in crowded field may follGlenn Petersen-2/28/2016
56Lending Startups Look at Borrowers’ Phone Usage to Assess Creditworthiness SmaGlenn Petersen112/1/2015
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